WOODBRIDGE, ON, March 10, 2014 /PRNewswire/ - Pivotal Therapeutics Inc. (OTCQX: PVTTF) (CSE: PVO), a specialty pharmaceutical company with a focus on Omega-3 therapies
for cardiovascular disease (CVD) and overall health, announced today
that James Connolly has been appointed to the Company's Board of
Directors, effective immediately. Mr. Connolly brings over 27 years of
experience in the pharmaceutical industry to Pivotal, including 23
years in various leadership positions at Wyeth, formerly American Home
Products, a $23 billion pharmaceutical and health products company that
was acquired by Pfizer in 2009.
During his 23 years at Wyeth, Jim served in a series of leadership roles
of increasing responsibility including Executive Vice President and
General Manager, Wyeth Vaccines, President, Wyeth Canada, Vice
President - Sales and Marketing, Area Business Director, Business
Director - Wyeth/Medco joint venture and Finance Director. Under Mr.
Connolly's stewardship from 2005-2009, Wyeth's vaccines business grew
from $800 million to over $3 billion driven principally with the
creation of the first true commercial blockbuster vaccine, Prevnar.
During Jim's tenure leading Wyeth Canada, sales more than doubled to
over $650 million in less than four years, and all key promoted brands
including Effexor XR, Prevnar, Enbrel, Alesse, Premarin and BeneFix
achieved the #1 market share position in each of their respective
"We are very pleased to welcome Jim to the Board of Directors of Pivotal
Therapeutics," said Dr. George Jackowski, Co-founder and Chairman of
Pivotal's Board of Directors. "Jim's wealth of experience in brand
establishment, commercialization and growing sales will be invaluable
as the Company expands its commercialization team to execute the
broader launch of its Medical Food VASCAZEN®.
"I am excited to be joining Pivotal's board of directors and working
with the company to help strengthen the overall commercialization
efforts," stated Mr. Connolly. "Treating an Omega-3 deficiency with an
innovative Medical Food such as VASCAZEN® is a unique approach to this large market and represents a significant
Mr. Connolly currently serves as an advisor at Crossover Healthcare
Fund, director of Vaxess Technologies and a director at Aeras, a
non-profit biotech organization developing vaccines for tuberculosis
and other neglected diseases, where he formerly served as CEO until
2013. He holds a B.S. in Business Administration from Washington
University, St. Louis, MO.
About Pivotal Therapeutics Inc.
Pivotal Therapeutics is a publicly traded (OTCQX: PVTTF) (CSE: PVO)
specialty pharmaceutical company with a focus on cardiovascular disease
and overall health. Pivotal Therapeutics' lead product VASCAZEN® is a prescription only Medical Food formulated to meet the dietary
Omega-3 deficient needs of patients with cardiovascular disease through
elevating Eicosapentaenoic acid (EPA) and Docosahexaenoic acid (DHA) to
levels associated with reduced risk of cardiovascular complications. OMAZEN® is a pharmaceutical grade Omega-3 providing over 90% pure Omega-3 in
each capsule for the maintenance of good health. OMAZEN® is a patented product available for sale and distribution in Canada.
VASCAZEN® is currently available in the U.S. as a prescription only Medical Food
specifically formulated for the dietary management of an Omega-3
deficiency in cardiovascular patients. VASCAZEN® is a >90% pure Omega-3 with a proprietary 6:1 EPA:DHA fatty acid
formulation, protected by a series of both U.S. and foreign patents. VASCAZEN® has been clinically shown to correct an Omega-3 deficiency within eight
weeks of treatment with positive concomitant effects on the lipid
profiles, mainly a 48% reduction of triglycerides and an increase of
HDL without negative impact on the LDL-C lipid profile. VASCAZEN®'s results were achieved with a dose of 3 grams of EPA and DHA per day
of a prescription grade, high purity Omega-3.
The information contained in this document is as of March 10, 2014. This
press release contains forward-looking statements. Such forward-looking
statements are subject to a number of risks, assumptions and
uncertainties that could cause Pivotal's actual results to differ
materially from those projected in such forward-looking statements.
These statements can be identified by the use of words such as "will",
"anticipate", "estimate", "expect", "project", "forecast", "intend",
"plan", "believe", "project", "potential", and similar expressions with
any discussion of future operating or financial performance or events.
In particular, factors that could cause actual results to differ
materially from those in forward looking statements include the
following: Pivotal's inability to obtain additional financing on
acceptable terms; growth in costs and expenses; inability to compete
with others who provide comparable products; risk that the Company's
products will not gain widespread market acceptance; risks relating to
the Company's ability to maintain its CSE listing. Forward-looking
statements speak only as of the date made and are not guarantees of
future performance. The Company undertakes no obligation to publicly
update or revise any forward-looking statements contained in this
document as a result of new information or future events or
developments. CSE has not reviewed and does not accept responsibility
for the adequacy or accuracy of this information.
SOURCE Pivotal Therapeutics Inc.